Mijem Newcomm Tech (XCNQ:MJEM) Effective Interest Rate on Debt % : 8.51% (As of Jan. 2024)

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What is Mijem Newcomm Tech Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Mijem Newcomm Tech's annualized positive value of Interest Expense for the quarter that ended in Jan. 2024 was C$0.00 Mil. Mijem Newcomm Tech's average total debt for the quarter that ended in Jan. 2024 was C$0.05 Mil. Therefore, Mijem Newcomm Tech's annualized Effective Interest Rate on Debt % for the quarter that ended in Jan. 2024 was 8.51%.

Mijem Newcomm Tech Effective Interest Rate on Debt % Historical Data

The historical data trend for Mijem Newcomm Tech's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Mijem Newcomm Tech Effective Interest Rate on Debt % Chart

Mijem Newcomm Tech Annual Data

Trend

Dec20

Jul21

Jul22

Jul23

Effective Interest Rate on Debt %

15.40

8.28

Mijem Newcomm Tech Quarterly Data
	Oct20	Jun21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23	Jan24
Effective Interest Rate on Debt %	Get a 7-Day Free Trial							-	-	-	21.05	8.51

Competitive Comparison of Mijem Newcomm Tech's Effective Interest Rate on Debt %

For the Software - Application subindustry, Mijem Newcomm Tech's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Mijem Newcomm Tech's Effective Interest Rate on Debt % Distribution in the Software Industry

For the Software industry and Technology sector, Mijem Newcomm Tech's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Mijem Newcomm Tech's Effective Interest Rate on Debt % falls into.

Mijem Newcomm Tech Effective Interest Rate on Debt % Calculation

Mijem Newcomm Tech's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Jul. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Jul. 2022 )	+	Total Debt (A: Jul. 2023 ))	/ count )
=	-1 * -0.003	/	( (0	+	0)	/ 1 )
=	-1 * -0.003	/	0
=	N/A %

where

	Total Debt (A: Jul. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0	+	0
=	0

	Total Debt (A: Jul. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0	+	0
=	0

Mijem Newcomm Tech's annualized Effective Interest Rate on Debt % for the quarter that ended in Jan. 2024 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Oct. 2023 )	+	Total Debt (Q: Jan. 2024 ))	/ count )
=	-1 * -0.004	/	( (0.019	+	0.075)	/ 2 )
=	-1 * -0.004	/	0.047
=	8.51 %

where

	Total Debt (Q: Oct. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0	+	0.019
=	0.019

	Total Debt (Q: Jan. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	0	+	0.075
=	0.075

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Jan. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

Mijem Newcomm Tech (XCNQ:MJEM) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

Mijem Newcomm Tech Effective Interest Rate on Debt % Related Terms

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Mijem Newcomm Tech (XCNQ:MJEM) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Mijem Newcomm Tech Inc (XCNQ:MJEM) » Definitions » Effective Interest Rate on Debt %

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Traded in Other Exchanges

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Address

50 Carroll St, Toronto, ON, CAN, M4M 3G3

Website

https://www.mijem.com

Mijem Newcomm Tech Inc is engaged in the development and monetization of online and mobile applications.

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